The International Monetary Fund said crude oil income for the region would be 270 billion dollor less than last year

 

The business outlook for the Middle East and North Africa was already grim as the region struggles to difficult with the fallout of the covid 19.The International Monetary Fund now sees business development in the Middle East and Central Asia shrinking 4.7% percent this year. it is a full 2% percentage points lower than it is April month expectation.

The International Monetary said 2020 crude oil income for the region would be 270 billion dollor less than last year. central asia business that are heavily dependent on energy exports have been hit by this year oil price rout as coronavirus guts crude demand, and the market grapples with the lingering effects of the oil price war Saudi Arabia initiated in March.
Money from non crude oil sectors was also fall a severe blow to energy exporters like UAE that are trying to diversify away from fuels in order to new jobs for its young workforce.

These risks maybe, in turn, make it difficult for governments to unwind some of the important help they have given their people to help weather the pandemic.Governments should withdraw medical support, said the International Monetary Fund, in order to avoid a extreme drop in incomes and loss which would in-equality and poverty.